With the cryptocurrency market capitalization at double what it was at this time, many say that it is doubly deserved.
On the front of Bitcoin, the leading cryptocurrency has seen strong institutional adoption, with many on Wall Street not admitting that the cryptocurrency is a viable investment and a likely alternative to gold. Investors that have acknowledged this over recent months include Paul Tudor Jones, Ray Dalio, Stan Druckenmiller, and Rick Rieder. Each of these individuals manage multi-billion-dollar portfolios.
Ethereum, too, has seen strong fundamental trends driving its growth recently.
2017’s rally was predicated on pure promises, with projects reaching multi-billion-dollar valuations on pure speculation and strong marketing that convinced throngs of retail investors to buy.
This rally has been predicated on fundamentals and the delivery of products.
Ethereum has seen a large influx of usage in recent months, as evidenced by the growth seen in decentralized finance platforms.